BONANZA-GRADE HIT: 7.9 Metres of 473.2 g/t Silver + 2.92 g/t Gold at Silver Cliff
September 22, 2026: Final assays from Viscount's ten-hole 2026 program are in. Hole K26-08, about 1 km north of the Kate Silver Resource, returned 13.4 m averaging 267.6 g/t silver, including 7.9 m of 473.2 g/t silver and 2.92 g/t gold, 1.5 m of 1,030 g/t silver, and 1.8 m of 675 g/t silver with 10.20 g/t gold.
All ten holes were drilled OUTSIDE the current resource. Five of the six Kate expansion holes hit silver above the 15 g/t cutoff, including 45.7 m of 34.1 g/t (K26-04) and 18.0 m of 46.0 g/t (K26-09). None of it is in the current ounces yet.
September 10, 2026: Cherry Creek geochemistry flagged broad antimony and tellurium anomalies, both on the 2025 U.S. Critical Minerals List, with gold up to 48.6 g/t in the same corridor.
Step-Out Silver + A New Silver-Gold Corridor Toward Passiflora + Critical Minerals in Nevada
Silver Cliff, Colorado. Photo: viscountmining.com
$VLMGF - Viscount Mining: Silver Beyond the Resource, a Porphyry Discovery, and a Critical-Minerals District
Price: ~US$0.34 (VLMGF, Sep 21, 2026) | Market Cap: ~US$52.9M | Kate Resource: ~24.5M oz Ag
viscountmining.com | OTC Markets: VLMGF
Executive Summary
- Core assets: Two 100%-controlled U.S. projects: Silver Cliff, Colorado (the Kate silver deposit and the Passiflora copper-gold porphyry) and Cherry Creek, Nevada (a multi-metal district with 20+ past-producing mines).
- New drill results: All ten 2026 holes landed outside the Kate resource. The standout, K26-08, hit 7.9 m of 473.2 g/t silver and 2.92 g/t gold about 1 km north, defining a high-priority corridor toward Passiflora.
- Resource upside: The existing NI 43-101 resource is ~24.5M oz silver (10.275M oz M&I + 14.215M oz inferred). SLR Consulting is re-analyzing it at today's silver prices, and a follow-up 10-hole program is planned for later in 2026.
- Porphyry discovery: PF-03A at Passiflora intersected 843.9 m of continuous copper-gold mineralization inside a large Quantec Titan MT anomaly. At least three deep holes are planned.
- Critical minerals: Tungsten program (July), antimony and tellurium anomalies (September) at Cherry Creek, and widespread manganese in the 2026 Silver Cliff core.
- Funded and up-listed: Oversubscribed 2026 financing, OTCQX upgrade in April 2026, no debt reported.
2026 DRILL RESULTS: Silver Beyond the Kate Resource Boundary
The ten-hole, ~830-metre program tested two things: expanding the Kate open-pit opportunity past its modelled edge, and testing soil anomalies north of Kate toward the Passiflora porphyry. Viscount is now evaluating results at a 15 g/t silver cutoff (the April 2023 resource used 30 g/t), reflecting much higher silver prices since then.
K26-08: The High-Grade Silver-Gold Zone (~1 km North)
13.4 m
267.6 g/t Ag
Broad interval
7.9 m
473.2 g/t Ag
+ 2.92 g/t Au
1.5 m
1,030 g/t Ag
+ 1.65 g/t Au
1.8 m
675 g/t Ag
+ 10.20 g/t Au
The entire 184.1-metre hole averaged 21.8 g/t silver. Drilled toward the PF-03A porphyry discovery hole, K26-08 also showed biotite and potassic alteration at depth, which the Company says fits its model of a porphyry-related system to the north (more drilling needed to test that).
Kate Resource-Expansion Holes (67.7 m to 117.7 m Outside the Resource)
- K26-04: 45.7 m @ 34.1 g/t Ag, incl. 24.4 m @ 48.9 g/t (entire 56.4 m hole averaged 28.9 g/t)
- K26-09: 18.0 m @ 46.0 g/t Ag, incl. 6.1 m @ 93.2 g/t (entire 62.3 m hole averaged 21.7 g/t)
- K26-10: 12.5 m @ 15.3 g/t Ag, incl. 4.0 m @ 54.1 g/t
- K26-03: 6.1 m @ 15.5 g/t Ag | K26-01: 7.6 m @ 15.0 g/t Ag
- Five of six holes returned qualifying intervals. K26-02 did not.
Northern Trend Toward Passiflora (573.6 m to ~1 km Out)
- K26-07: 15.9 m @ 28.1 g/t Ag, incl. 1.2 m @ 212 g/t Ag and 0.38 g/t Au (Ben West volcanic rim)
- K26-05: 6.1 m @ 46.3 g/t Ag, incl. 1.5 m @ 164 g/t Ag (south of the historic Defender Mine)
- K26-06: 3.0 m @ 15.0 g/t Ag within broader lead-zinc mineralization
Manganese: A U.S. Critical Mineral Bonus
Manganese topped 1,000 ppm in 196 of 506 core samples, and 76 samples ran above the lab's routine upper limit, so their real grades aren't known yet and will be re-assayed. Zinc and lead also topped 0.1% in 146 and 116 samples. Per the USGS, the U.S. was 100% import-reliant for manganese in 2025 and hasn't produced 20%+ manganese ore domestically since 1970.
Project Manager/Geologist Chrissy Ricks: "The drill program has significantly advanced the Silver Cliff story, strengthening both our open pit resource-expansion opportunity at Kate and the broader exploration potential to the north... Based on the results we are currently preparing for a follow up 10-hole drill program this year."
Silver outside the resource today is potential new ounces tomorrow, pending follow-up drilling and an updated estimate
Source: Viscount Mining press release, Sep 22, 2026 (via Newsfile / Doc's Consulting). Grades are the Company geologist's composites at a 15 g/t Ag cutoff, reported as downhole lengths. Step-out mineralization is targeted for a future resource update.
THE INVESTMENT CASE: Three Ways to Win
Viscount Mining (TSX-V: VML | OTCQX: VLMGF) is a Vancouver-based explorer with two 100%-controlled, district-scale land positions in mining-friendly Colorado and Nevada. Near-surface silver at Kate has a compliant resource and now step-out hits beyond it. District-scale copper-gold at Passiflora has an 843.9 m discovery hole inside a large geophysical anomaly. Multi-metal optionality at Cherry Creek spans tungsten, antimony, tellurium, silver and gold. Management and holders close to the company own about 60% of the shares.
Share Price
~US$0.34
VLMGF, Sep 21, 2026
Market Cap
~US$52.9M
Per aggregator
Kate Silver
24.5M oz
M+I+Inferred (Apr 2023)
PF-03A
843.9 m
Continuous Cu-Au
Best 2026 Hit
473.2 g/t
Ag over 7.9 m (K26-08)
Insiders & Close Holders
~60%
Per Company
Silver resource growth + porphyry discovery upside + critical-minerals optionality, all in the U.S.
SILVER CLIFF, COLORADO: The Kate Silver Deposit
Exposed silver vein at Silver Cliff. Photo: viscountmining.com
Silver Cliff sits in the historic Hardscrabble Silver District, about 44 miles WSW of Pueblo, Colorado, with year-round paved access. The property covers 96 lode claims (~938 hectares); high-grade silver, gold and base metals came from numerous underground mines between 1878 and 1894. Kate is a shallow epithermal system suited to conceptual open-pit development, with most mineralization between 15 and 45 metres deep.
| Category | Tonnes | Grade (g/t Ag) | Contained Ag (oz) |
|---|---|---|---|
| Measured | 673,200 | 73 | 1,578,000 |
| Indicated | 3,419,040 | 70 | 8,697,000 |
| Measured + Indicated | 4,092,240 | 71 | 10,275,000 |
| Inferred | 8,981,440 | 52 | 14,215,000 |
April 2023 NI 43-101 resource at a 30 g/t Ag cutoff, based on US$24/oz silver (silver is substantially higher today).
Why the Resource Could Grow
- SLR Consulting review: SLR is re-analyzing the Kate estimate. Viscount's confirmation drilling has brought historical holes into full NI 43-101 compliance.
- Lower-grade halo never logged: Historical sampling used a 1-2 oz/t cutoff, so lower-grade material around those holes wasn't recorded, which the Company calls upside not yet in the model.
- Silver price leverage: The resource was built at US$24/oz silver. The 2026 results are being evaluated at a 15 g/t cutoff instead of 30 g/t.
- Step-out success: Five of six 2026 expansion holes hit qualifying silver outside the boundary.
- Track record: Of 54 Viscount holes at Kate over six campaigns, 25 had intervals above 110 g/t and 10 had intervals above 400 g/t. Hole K16-01 assayed 1,778 g/t (57.2 oz/t) over 6.1 m within 15.2 m of 837 g/t.
A compliant silver resource with multiple levers for growth
Source: Viscount Mining Q3 2026 Investor Presentation; press releases Apr 21, Jun 29 and Sep 22, 2026.
PASSIFLORA: A District-Scale Copper-Gold Porphyry Discovery
Cross section through line L1E showing resistivity to ~2,400 m depth. Figure: viscountmining.com
PF-03A: 843.9 m of Continuous Copper-Gold Mineralization
Discovery hole PF-03A averaged 0.214% CuEq over 843.9 m, including 189 m at 0.326% CuEq and 45 m at 0.417% CuEq. Those grades exceed the ~0.15% CuEq typical of early-stage porphyry discoveries that later became world-class mines. It's open in all directions and at depth, with copper grades improving toward the bottom. Management described it in an interview as the largest continuous gold intercept it knows of in U.S. history.
Titan MT Survey: A Very Large Conductive Anomaly
Quantec Geoscience mapped a major conductive body from about 400 m to 1,500 m deep, roughly 1.4 km by at least 700 m and open to the northwest, totaling over 665 million cubic metres. Quantec has worked for Newmont, Barrick, Agnico Eagle and First Majestic. The Company compares the anomaly to early-stage porphyries that became major mines, such as New Afton.
What's Next at Passiflora
- Rosor airborne survey: Field work for the high-resolution EM/magnetic survey is complete; interpreted results are pending.
- Data integration: Rosor + Quantec + drilling + soil geochemistry to vector toward the core of the system.
- Deep drilling: At least three deep holes planned for 2026.
- New link: The K26-08 silver-gold corridor and its alteration point north toward Passiflora, and the Company now interprets Kate and Passiflora as potentially related parts of one hydrothermal system.
843.9 m of copper-gold, open in every direction, inside a 665-million-cubic-metre anomaly
Source: Q3 2026 Investor Presentation; Big Biz Show interview, Aug 2026; press releases Jun 29 and Sep 22, 2026.
CHERRY CREEK, NEVADA: A Multi-Metal, Critical-Minerals District
Photo: viscountmining.com
Cherry Creek is a district-scale land package of 219 unpatented and 9 patented claims plus mill rights in White Pine County, about 50 miles north of Ely, Nevada, with more than 20 past-producing mines. It has produced silver, gold and tungsten from veins and skarns, with carbonate replacement (CRD), jasperoid and porphyry-related potential. 2022 drilling at Ti-Cup returned 1,456 g/t silver over 1.5 m and 297 g/t over 5.0 m, with three stacked CRD horizons.
July 7, 2026 - Discovery Pipeline Accelerated NEW
Viscount rebuilt a large historical dataset from Centerra Gold and Summit Mining (Sumitomo) into one property-wide database covering geology, rock/soil/stream geochemistry, IP and aeromagnetic geophysics, drill holes and satellite alteration mapping. Priority targets include Lead Mine Canyon, Mary Anne, the tungsten zones and Ti-Cup.
VP of Exploration Mark Abrams: "This is not a single-target story, this is a pipeline of opportunities."
July 21, 2026 - Tungsten Evaluation Program
A systematic tungsten program built on over 5,000 rock and soil samples, in a district producing tungsten since World War I, amid record tungsten prices and U.S. defense supply-chain urgency. Management reports high tungsten anomalies across multiple zones.
September 10, 2026 - Antimony & Tellurium Results NEW
- Antimony: 106 rock samples at 100-10,000 ppm and 534 at 15-100 ppm; 1,800+ soil samples above background
- Tellurium: 13 rock samples above 4 ppm (peak 56.8 ppm)
- Also: silver up to 8,710 ppm, tungsten up to 10,000 ppm, copper up to 33,900 ppm, and gold up to 48.6 g/t in the antimony corridor
- Next: The Exchequer Fault gold-bismuth-tellurium target now ranks as the third drill priority on the property
Past-Producing Mines
20+
Historic district
Samples Compiled
6,500+
1,965 rock + 4,593 soil
Ti-Cup Silver
1,456 g/t
Over 1.5 m (2022)
Critical Minerals
W, Sb, Te
Tungsten, antimony, tellurium
Tungsten, antimony and tellurium: three U.S. critical minerals in one 100%-controlled district
Source: Viscount Mining press releases Jul 7, Jul 21 and Sep 10, 2026; Q3 2026 Investor Presentation. Reviewed by Harald Hoegberg, C.P.G., independent Qualified Person.
100% U.S.-Based Critical Minerals Exposure
- Every project is in the U.S.: Silver Cliff, Colorado and Cherry Creek, Nevada.
- Critical minerals in hand: Manganese (Silver Cliff core), tungsten, antimony and tellurium (Cherry Creek), plus copper, silver and molybdenum exposure.
- Supply chain gap: The U.S. imported about 1.01 million metric tons of manganese ores and alloys in 2025 and was 100% net-import reliant, per the USGS.
- Federal engagement: The Company has started talks with the U.S. Department of Energy about emerging federal programs.
Manganese context: USGS Mineral Commodity Summaries 2026, as cited by the Company.
FUNDED, UP-LISTED, NO DEBT
- Oversubscribed 2026 financing: about C$5.6M in March 2026, per management, plus about C$4.5M in warrant exercises reported in July.
- OTCQX upgrade (April 28, 2026): Moved up from OTCQB to the highest OTC Markets tier, with stricter financial and governance standards and better visibility for U.S. investors.
- No debt reported. CEO Jim MacKenzie (June 29): "We are well capitalized, active in the field, and advancing multiple near-term catalysts."
- Options: 500,000 consultant options granted July 7, 2026 at C$0.50 for three years.
Price (VLMGF)
~US$0.34
Sep 21, 2026
Market Cap
~US$52.9M
Per aggregator
52-Week Range
$0.12 - $0.78
VLMGF, USD
Basic Shares
134.9M
As of Aug 6, 2026
Fully Diluted
152.9M
+10.0M options, 8.0M warrants
Net Cash
~C$6.0M
Per Aug 2026 presentation
Fully funded for 2026 with no debt: the work gets done without a financing overhang
Price and market cap: StockAnalysis, Sep 21, 2026. Share counts and net cash: Viscount Q3 2026 Investor Presentation (as of Aug 6, 2026).
Management Team & Board
Jim MacKenzie
Founder, President, CEO & Director. Founded Viscount in 2010; led joint ventures, land acquisitions and exploration contracts; track record raising equity and project capital.
Dr. Grant Devine
Chairman & Director. Premier of Saskatchewan 1982-1991; presided over the privatization of Potash Corp. and Cameco; 10 years on the Agrium board.
Mark Abrams
VP of Exploration, Technical Advisor & Director. 30+ years in mineral exploration across Canada, the U.S., Chile and Indonesia.
Scott Davis
CFO. Partner, Cross Davis & Company LLP, Chartered Professional Accountants, Vancouver; CFO of multiple TSX Venture companies.
Andrew Gertler
Co-Founder & Director. 30+ years in M&A across private equity, distressed debt and real estate; former SVP and Director, Hudson Advisors Canada.
Harald Hoegberg
Independent Advisor & Qualified Person. 40+ years as a geologist; clients include Placer Dome, Teck Resources, US Lime & Mineral and Cyprus Mining.
Christina (Chrissy) Ricks
Project Manager / Geologist. Ran on-site logging and field supervision of the 2026 Silver Cliff program.
Source: Q3 2026 Investor Presentation; press releases Jul 7 and Sep 22, 2026. Icons are used because no headshots with confirmed usage rights were sourced.
2026 Milestone Timeline
Catalysts to Watch (Rest of 2026)
✓ Follow-up 10-hole drill program at Kate and the northern corridor, after a new soil survey.
✓ SLR resource re-analysis and timing of an updated Kate NI 43-101 estimate.
✓ Rosor airborne survey results and final Passiflora drill targets.
✓ At least three deep Passiflora holes.
✓ Manganese re-assays on the 76 over-limit samples.
✓ Cherry Creek drill targets across tungsten, antimony-gold and Exchequer Fault zones.
The Bottom Line: Why VLMGF Belongs on Your Radar
✓ Silver beyond the resource: All ten 2026 holes were outside the Kate boundary, and five of six expansion holes hit.
✓ A new high-grade corridor: 7.9 m of 473.2 g/t silver and 2.92 g/t gold about 1 km north, pointing toward Passiflora.
✓ Compliant silver base: ~24.5M oz at Kate, with an SLR re-analysis at today's prices underway.
✓ Porphyry upside: 843.9 m of continuous copper-gold, open in all directions, inside a 665-million-cubic-metre anomaly.
✓ Critical minerals: Manganese at Silver Cliff; tungsten, antimony and tellurium at Cherry Creek.
✓ Funded and up-listed: Oversubscribed financing, warrant exercises, OTCQX, and no debt reported.
✓ Aligned ownership: About 60% held by insiders and holders close to the Company.
At roughly US$53M, Viscount offers near-surface silver with clear growth levers, a district-scale porphyry discovery and critical-minerals optionality, all in the United States. The next few months bring follow-up drilling, the SLR review, Rosor results and deep Passiflora holes, a steady run of catalysts for a company this size.
A funded U.S. explorer with news flow lined up through the end of 2026
Key Resources & Contacts
Company Website: viscountmining.com
SEDAR+ Filings: All VML Filings (SEDAR+)
OTCQX Profile: VLMGF on OTC Markets
Viscount Investor Relations: info@viscountmining.com | Jim MacKenzie, President & CEO: jim@viscountmining.com
Presentation Source: Doc's Consulting Ltd. | Craig Doctor | +1 (604) 278-4656 | craig@docsconsultingltd.com
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See What Else We're Tracking →Disclaimer: This report is for informational and educational purposes only and does not constitute investment advice. It is not to be considered as an offer to buy or sell securities of any type. Exploration-stage mining stocks are highly speculative and carry significant risk of total loss, including the risk that current exploration targets never become an economic resource. Viscount Mining Corp. is a pre-revenue exploration company. The 2026 drill results described in this report lie outside the current Kate mineral resource and do not by themselves increase it; any resource expansion requires further drilling and an updated estimate by a Qualified Person. Reported drill lengths are downhole core lengths and true widths have not been determined. Unless otherwise stated, historical exploration information referenced in this report is not compliant with NI 43-101 and has not been independently verified by a Qualified Person; scientific and technical information has been reviewed by Harald Hoegberg, C.P.G., an independent Qualified Person as defined under NI 43-101. This report draws on Viscount Mining's press releases, its Q3 2026 investor presentation distributed by Doc's Consulting Ltd. of Richmond, BC, and a company-arranged media interview; Doc's Consulting Ltd. states it is not a registered securities dealer or advisor. Market data is drawn from third-party aggregators and should be independently verified. Always do your own due diligence and consult with a licensed financial advisor before making investment decisions. Data current as of September 26, 2026.